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News ~ September 8, 2019
Hurricane Dorian Update:
A huge thank you to all who helped prepare the Club for Hurricane Dorian’s arrival and get it back in usable order once the storm had passed. Several members tried to get on the beach on Wednesday morning to help, but were turned back at the draw bridge. Jan and Bo will be working with the City of Wrightsville Beach so that this is not a problem in the future. Thanks for trying to those who were not allowed to cross the bridge. Luckily, we had no damage from this storm, so the Club is operating on a normal schedule.
Fall Meal Schedule:
During the off-season, meals will only be served on certain nights each week – and that is subject to change due to private events. Be sure to check the meal schedule that will be posted on the website, e-mailed, and posted on FaceBook. Weeknight meals will be served at 6:30pm with Sunday lunch at 12:30pm.
Menus for 9/10/19 through 9/29/19
9/10, Tuesday ~ Taco Night; Chicken Enchiladas and Beef Taco Bowls
9/15, Sunday ~ Fried Chicken and Beef Ribs
9/ 17, Tuesday ~ Taco Night; Steak Fajitas and Chicken Taco Bowls
9/22, Sunday ~ Fried Chicken and Honey Baked Ham
9/24, Tuesday ~ Taco Night; Steak, Pork, or Chicken Tacos and Taco Bowls
9/27, Friday ~ Surf N Turf; Prime Rib and Grilled Shrimp
9/29, Sunday ~ Fried Chicken and BBQ Pulled Pork
Parties/Events:
Your Club is a perfect place to host parties and events. We have quite a few private events already scheduled for the fall, so if you would like to book, be sure to call the Club soon. In order to have a private party/event, you must call to schedule an appointment with Victor. At that time, you will make preliminary arrangements, sign a contract, and pay a deposit. Closer to the event you can meet to plan menus, etc. We can handle anything from a small luncheon to a dinner/party/wedding of 100 or more. We have a catering menu with pricing, but we are also flexible so that you can have the party/event of your dreams! The Party and Meeting Policies are located on the Quick Links page of the website. You do not need to log in to view these documents.
Coming Events:
Monday, September 9 at 7:00 Monthly Bunco resumes. $5 cover to be split among winners. Bring a snack and drink, if you choose.
Thursday, September 19 at 6:00 Monthly Board Meeting. All members are welcome. If you would like to speak, contact the President, Jan Sheppard, in advance.
HSC Treasurer’s Update As of August 30, 2019:
This is the second quarterly update of our compressed 8-month fiscal-year. It has been an honor to serve you as Sec-Treasurer for the past six months. During that short time we have worked very hard to transition to our new accounting/club management software. Many thanks to the members of our Club finance team and Club members for bearing with us through this change. Now for the good news and bad news.
As you may recall, the previous update reported that our Club was working with a deficit budget, approved by the membership last February and subject to rising overall expenses and repair costs that reflect our aging Clubhouse and rising food/labor costs in a booming economy. Club income is also down considerably this year due to loss of 605 rental income and lack of new-member initiation fees.
After the February 9 annual meeting, your Club’s 2019 finance team spent most of the first 90 days, Feb-Apr, repairing issues related to not having a bookkeeper most of last Fall and Winter and completing the transition to the new Club Management System. We rehired our Controller in late January and hired a new bookkeeper in March. Both are excellent and were able to help us fill-in missing data arising from absence of a bookkeeper. They are also helping to clear up old tax issues dating as far back as 2014, 15, and 2016.
After many corrections due to the vacant bookkeeper position, the finance team was able to accurately balance again by early Summer. At that time it became clear that the Club is operating at a significant deficit as was predicted in January. The good news is that we have sufficient funds on-hand to pay all expenses for this fiscal year. However, the Club’s current income-shortfall will not sustain operations through the next Fiscal Year. It is likely that we will be faced with some combination of dues and service fee increases for the next fiscal year beginning Nov 1, 2019.
The need for a dues increase is unrelated to the recent Member vote/decision to rebuild and rent the 605 property.
Our Club’s primary income source is from dues, fees for meals, room rentals, parking, and lockers. The Club’s secondary income source is from initiation fees as new members join the Club and from rental of the property at 605 Lumina Av. Your Board and Operations Committee have been conservative with expenditures this year. They have also spent a lot of time looking at expenditures as related to demand for services. During late September 2019, the Board will present several reasoned revenue options for 2019-20 along with a proposed 2019-20 Budget. The Board will recommend a $75 dues increase, but the final decision rests with the membership. After careful review at the annual meeting on Oct 26, 2019, the Membership will decide which course-of-action best suits the Club’s needs. As your treasurer, I must tell you that a $75 dues increase along with some fee increases is the minimum that will bring the Club into the black for the coming year.
Reminders:
1. The next member-year begins soon – on November 1, 2019. Annual bills for dues and fees will go out in early November. Please budget for the change and remember that it was a member vote that brought about the change.
2. Parking Stickers for 2019 will be valid through Oct 31, 2020. This board approved extension saved the Club almost two thousand dollars.
3. Our Club’s membership is still near the 760 member Constitutional maximum.
4. Lockers rentals and boat permits will need to be renewed after November 1, 2019 for the 2019-20 fiscal year.
In summary, income adjustments will have to be made this Fall in order keep the Club on firm financial footing for the coming year(s). We will make every effort to make sure you have the information in hand to help you make the best decision possible. In the meantime, the Club has sufficient cash to carry us into the next fiscal year.
Best regards,
Dan Hickman, Secretary/Treasurer, Feb-Oct 2019
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